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(OE) The world’s FPSO fleet is getting older, with 55 FPSO units in the global fleet reaching the end of their design life in the next five years, with an additional five having life extension in place. With 19 more FPSOs currently being evaluated for life extension, safety issues and structural integrity concerns come to... Continue Reading →
Portuguese oil company Galp Energia on Monday raised its earnings outlook for 2021 after higher oil prices and positive refining margins buoyed profitability in the third quarter. Galp said its adjusted core earnings or EBITDA in this year as a whole would exceed 2.3 billion euros ($2.7 billion), compared with its previous forecast of 2... Continue Reading →
The Papa-Terra field, in the Campos Basin, which marked the entry of 3R Petroleum in the state of Rio de Janeiro, will increase the company's proven (1P) reserves by around 35%, bringing them to a total 185.1 million barrels of oil equivalent. The company recently received from DeGolyer & MacNaughton the final result of the... Continue Reading →
Petrobrás announced that it has asked the Environmental Licensing Board of the Brazilian Institute for the Environment and Renewable Natural Resources (Ibama) for an operating license for the offshore drilling activity in blocks FZA-M-57, FZA- M-86, FZA-M-88, FZA-M-125 and FZA-M-127, in the Foz do Amazonas Basin. Also according to the oil company, the Environmental Impact... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it has started the opportunity disclosure stage (teaser), regarding the sale of its entire stake (100%) in the Catuá Field, belonging to the BC-60 Exploratory Block, located in the Campos Basin, in the state of Espírito Santo. The teaser, which includes key information about the opportunity, as well... Continue Reading →
(OM) Woodside Energy has issued progress reports on its development projects in West Africa and Australia. Offshore Senegal, the first development well for the Sangomar field development Phase 1 has been drilled and completed, including installation of the xmas tree. It was also the first horizontal production well drilled in Senegal, the company said. Phase 1 was recently... Continue Reading →
(Reuters) - Oil producer Guyana could resume talks with India for a deal to sell the government's share of crude as output rises next year, the South American nation's vice president told Reuters. Earlier this year, Indian refiners bought at least two test cargoes of Guyana's Liza light sweet crude. But government-to-government negotiations on a... Continue Reading →
In September, pre-salt oil and natural gas production totaled 2.85 million barrels of oil equivalent per day (boe/d), representing 74.10% of the national total (3.84 million boe/d) . It was the biggest historical record of monthly production in the Pre-salt, both in absolute terms and in percentage of participation in the country's total production. The... Continue Reading →
Petrobras - In 3Q21, we continued to operate safely and with a solid performance, still with a differentiated regime and special protocols due to the pandemic scenario, but with a gradual increase in the number of people on board. The average production of oil, LGN and natural gas reached 2.83 MMboed, 1.2% above 2Q21, mainly... Continue Reading →
(WO/Bloomberg) --Guyana will likely become one of South America’s top oil producers over the next four years, but the world’s newest petrostate increasingly sees gas as the bedrock for growing its domestic economy. Work will begin on constructing a major gas-fired power plant in 2022 on the expectation that a 220-kilometer (135-mile) pipeline will be... Continue Reading →
Brazil Energy Insight 